Says economic crisis closer than we think
On Friday. Pres. Trump declared a national emergency.
Based on that declaration, the president will reallocate $6.5 billion from other government programs to fund a border wall.
In his podcast on Friday, Peter Schiff said there is indeed a national emergency, but it has nothing to do with the border.
“Of course, the real national emergency is not the lack of a wall, the failure to build a wall, but building up the national debt.”
Just last week, the US Treasury said the national debt has eclipsed the $22 trillion mark. When President Trump took office in January 2017, the debt was at $19.95 trillion. That’s a $2.06 trillion increase in the debt in just over two years.
And as Peter pointed out, this is just the tip of a huge iceberg.
“This is just a funded portion of the debt. This is where the US government sells a bond and somebody owns that bond.
